Hi gillian

In answer to your points:

1. Its completely backed with legislation.
2. No, this is excluded
3. Yes and a total household less total expenditure exercise
4. Yes
5. Depend on contribution and other factor.
6. Maximum 10 years
7. Yes. Whatever gets paid in reduces the balance.

Hope this helps

Mark

I recently saw some reporting on how DAS is working in reality.

It seems as though there are plenty of debt arrangement schemes that are set up for periods longer than 10 years. Of course the adviser will exercise some logic when looking at a very long DAS; for example someone who must retire in five years is unlikely to be able to enter a 15 year debt arrangement scheme.

Thanks for that, great info and I'll pass it on. I think I'll hang off till our holiday is paid - my trust deed payments are going towards that at the moment but I reckon between us, if there was a formal plan in place agreed with creditors it shouldn't take too long. We could definately put £6-700 per month to it so what would be a likely timescale to pay off £20000?

Hi gillian.

If you access a debt arrangement scheme through the free-to-client sector it's a clear case of dividing the debt total by the monthly payment to get the number of months required.

So, £20000 divided by £600 = just over 33 months.

If using a commercial provider the term will be a little longer due to their fees needing to be paid as well.

It'd be through a professional provider. That way, I'll be pretty sure that nothing's missed.

Hi gillian.

The free-to-client sector DAS Approved Money Advisers certainly are very well trained and professional. I can see why some people would prefer a shorter term by taking this route. We do also speak with quite a few people who are happy to pay a fee, perhaps partly because their perception is that they are likely to be seen sooner and that greater resources might be in place to progress things quicker.

Do I understand correctly then;

only if affordable payments x 120 will clear the total debt is DAS workable. ?

What is the result of a change in circumstances, I'd worry that in 10 years that would be probable rather than possible?

Is a failed DAS going to leave sequestration as the only option?

Normally it would be as you say, 120 pymts max to clear debt. If cirumstances change then a variation is possible, however if it is going to take too long then the DAS DPP could be revoked. Sequestration might be the likely route thereafter, but not necessarily so.

The DAS allows for changes in your circumstances within reason. As Kevin said, you can ask for a variation; you can also get a 'payment holiday', but only if your income has been reduced by a certain percentage. This is to help with things such as illness, redundancy, maternity leave etc. Thw whole idea is simply to give people who can afford to pay their debts, the time to do so, without being hounded by creditors.

There's no maximum term to DAS. As long as all your creditors agree to it.

If any of them reject it, then the DAS Administrator will decide.

You can apply for a variation if your circumstances change. If the DAS Administrator rejects that (maybe because it would make the DAS too long) you can still keep making the payments you agreed at the beginning.

As long as you keep making those payments, plus things like ongoing council tax and putting in your tax returns etc, then your DAS can continue. Once it has been accepted, it can't be revoked simply for being 'too long'.

You can apply for a'Payment Holiday' if your disposable income has been reduced by 50% or more due to specific changes in your circumstances.

free-to-client sector, can anyone tell me how to find this sector?

I have spoken to several advisors re my situation however no one has actually offered practical advce on how to get started with a DAS programme.

so far I have given my details, listened to the advice and choosen the best way forward for me but am unable to get someone to help me kick off the scheme.

Nervous about approaching just any commercial practitioner as I dont want to end up paying over the odds fees and scared sick that no one can help me.

Welcome to the trust deed forum lisel.

In terms of commercial providers, the companies represented here by Shona (and Michael), Kevin, and Chris all help clients with the debt arrangement scheme. You can read about each of their fees for this service on our own fees page (towards the bottom of the main menu).

You can also contact the Money Advisers at your local CAB or Local Authority. They should be able to set up a DAS for you without any fees being charged.

Hi Lisel
Can you tell me what area you are in, and I can tell you the nearest adviser. Alternatively, if you go into this website: www.dasscotland.gov.uk there is a box in the right top hand corner called Money Adviser Map. If you click on that, and then put in your postcode it will give you a list of advisers who can help. The Council and Citizens Advice Bureau are the free advisers. If there are no free advisers in your area, you can come back to us here.
Can I just say re the previous post, that if the DAS is not approved, then creditors can continue to take action against you, even if you are making payments.

Hi Shona and TdAssistant

Thank you both for your replys.

I have looked online at dasscotland.go.uk and my nearest (free) advisor seems to be in a Social Work Dept. I am in the Glasgow area.